RBS Savings Accounts.

benoit

Hi I opened a RBS key account a month ago and i was thinking i would also like to apply for a very basic savings accout with them too. There was so many but i think all i need is the most basic savings account but because i only had my Key account a month will it be better for me to wait a few months before applying or should i do it anyway?

Would anyone know the best way to do this please?

Dickieburd

It is usually easier to open a savings account than a current account or a basic bank account. Just go to the RBS website and apply online, you will get a decision at the end of the application, good luck.

benoit

Thanks. I did as you suggested and guess what happened? I got the saving account i wanted straight away. The online application has given me the account number already and they said it will be set up on my internet banking withing next 24hs. I am happy i did it now because i was worried i might not have been a RBS customer long enough yet. Thanks for replying.

chambta

benoit wrote: »

Thanks. I did as you suggested and guess what happened? I got the saving account i wanted straight away. The online application has given me the account number already and they said it will be set up on my internet banking withing next 24hs. I am happy i did it now because i was worried i might not have been a RBS customer long enough yet. Thanks for replying.

Savings accounts are not credit scored so it's virtually impossible to be refused a request to open one.

Twister84

benoit wrote: »

I am happy i did it now because i was worried i might not have been a RBS customer long enough yet.

Anyone can have an instant access savings account because you are not credit checked when you apply for one. Customers who usually get declined for current accounts get one of these instead as it still comes with some decent basic banking facilities even though it is a savings account.

You can set up direct debits from it, standing orders and even a receive a cheque book. The only thing is that you'll only get a cashline card for using at the ATM only rather than a debit card

Sportbilly_2

Just out of interest, which account did you apply for? The rates generally seem pretty poor compared to other accounts, apart from the 5% regular saver one which is competitive.

flyingscotno1

I agree with some of the above. RBS don't typically offer good rates although old ISA customers are still getting 3.5% which is healthy.

If you look at a building society you can sometimes get better rates there. Savings accounts are dead easy to get as long as you can meet the initial funding requirements- usually £1 or occasionally £100.

I have a Yorkshire Building Society instant access with cash machine card- 24hr access to my savings and a rate of 2.08%. I have better paying accounts but it is for extra spending cash for specific things and it sits out the way nicely till I need it!:T

chambta

Twister84 wrote: »

Anyone can have an instant access savings account because you are not credit checked when you apply for one. Customers who usually get declined for current accounts get one of these instead as it still comes with some decent basic banking facilities even though it is a savings account.

You can set up direct debits from it, standing orders and even a receive a cheque book. The only thing is that you'll only get a cashline card for using at the ATM only rather than a debit card

Not any longer. The terms and conditions of the IASA are changing and sodirect debits and standing orders will not be allowed. Some customers are getting letters now explaining this when attempting to initiate new instructions.

benoit

Sorry i did not reply before. The savings account i applied for was a telephone savers. I don't really know much about the different accounts and was not really sure which one i should apply for,, i just wanted to have a seperate account to put a bit of money away in. They said this one does not come with a cashcard so i just need to transfer money if i want to withdraw any.

missile

benoit wrote: »

Sorry i did not reply before. The savings account i applied for was a telephone savers. I don't really know much about the different accounts and was not really sure which one i should apply for,, i just wanted to have a seperate account to put a bit of money away in. They said this one does not come with a cashcard so i just need to transfer money if i want to withdraw any.

I would suggest you consider the Regular Savers account. You can do it online or give RBS a call and they will set it up for you:j

benoit

Thanks. I have had a look at the regular savers and guess it would be better for interest but it wont let me apply online so maybe i need to phone them. Would they be able to close the telephone savers account i opened at the same time?